Imagine recognition is a feature or process that identifies & detects an image/object in a digital form/video through a computer or any machine for biometrics. Image recognition recognizes the objects or images based on certain parameters like: hand geometry, patterns, fingerprints, palm recognition, face recognition, voice recognition, retina recognition, finger geometry and many other factors. Image recognition is used in various industries/businesses like: BFSI, media & entertainment, telecom, healthcare, transportation, logistics, consumer goods & retail and many more other tech companies. Image recognition aids in providing: validation of the data, enhancement of business procedures, improvement of productivity, medical image analysis, graphic geolocation, face detection for security purposes, identification of objects in good carrying vehicles/other vehicles etc.
Image Recognition Market: Key Players
The research study includes profiles of leading companies operating in the global image recognition market. Key players profiled in the report include: Attrasoft, Inc.; Google; Catchroom; Hitachi, Ltd.; Honeywell International Inc; LTUTech; NEC Corporation; Qualcomm Technologies, Inc.; Slyce Acquisition Inc. and Wikitude GmbH.
Drivers for the Global Image Recognition Market:
Rising use of image recognition in various business firms/industries & government, rising adoption towards artificial intelligence services, tracking of criminal activities in public areas, increasing demand for security applications & products permitted with the image recognition operation, airports are also using face/image recognition services at check points and face remembrance is widely used in crime discovery & also in law enforcement firms. Hence these are the major drivers of the market and are owing to increase the growth and disposable income of the image recognition industry.
Opportunities for the Global Image Recognition Market:
Moreover, rising use of digital payment platforms, increase ecommerce & online shopping, rapid growth in the mobile industries related to face recognition/fingerprint etc, facial identification on social networking websites for prevention of fraud usage and upsurge in self-driving cars/vehicles use object recognition technology. Hence these factors are going to provide future growth opportunities for the industry.
Restrains for the Global Image Recognition Market:
However, insufficient trained technical experts, high expenditure towards set-p & purchasing of an image recognition system, lack of proper image resolution size and the video captured occupies a significant amount of disk space. Hence these factors can majorly hamper the growth of the image recognition industry.
Region Wise, Global Image Recognition Market Analysis:
North America held major share in the market due to general economic conditions, investment in new technology, increasing incorporation of artificial intelligence services, increasing number of companies, budding cloud-based streaming services, rising mobile computing platforms for e-commerce & digital shopping. Besides, Europe and Asia-Pacific held a large share in the market.
Global Image Recognition Market: Product analysis
- Code Recognition
- Digital Image Processing
- Facial Recognition
- Object Recognition
- Pattern Recognition
- Optical Character Recognition
Global Image Recognition Market: Application analysis
- Scanning and Imaging
- Security and Surveillance
- Image Searching
- Augmented Reality
- Marketing and Advertising
Global Image Recognition Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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